Global Marine Systems Limited and Huawei Technologies Co Ltd to establish Joint Venture addressing Submarine Telecommunications Market Monday 14 May 2007 PDF Print Venture to combine advanced optical expertise from Huawei with market-leading submarine engineering from Global Marine [Chelmsford, UK/Shenzhen, China] Huawei Technologies Co., Ltd. (“Huawei"), a leader in providing next generation telecommunications network solutions for operators around the world, and Global Marine Systems Limited (“Global Marine”), the independent market-leading subsea cable installation and maintenance company, today announced they have entered into a Memorandum of Understanding (MoU) with the intent to establish a joint venture (JV) to deliver end-to-end competitive submarine network solutions to reliably deliver highly advanced global communication capabilities. The JV commits itself to becoming the leader in providing submarine solution and services globally. Industry analysts forecast a huge year in 2007 with at least 20 new supply contracts expected to be awarded totaling nearly 100,000 route-kilometers - largely driven by two transpacific cable projects and a number of medium-sized (2,000-10,000 kilometer) systems. These projections reflect a sustainable, stable growth market driven by the steady development of the Internet industry. The JV combines Huawei’s advanced optical expertise and Global Marine’s market-leading submarine engineering capability. It will give submarine network developers and operators a strong end-to-end solutions alternative that encompasses world-class, field-proven terrestrial and subsea technologies. “This strategic partnership leverages on our complementary strengths. Global Marine has over 150 years worth of experience in the installation and maintenance of subsea telecommunications systems, while last year Huawei was the fastest growing vendor in optical networks and is ranked No.2 with 11.3 percent global market share in 2006, according to Ovum-RHK.” said Mr. Yin Xuquan, Huawei’s president of Optical Networks. “The ultimate goal of all telecoms networking is to provide affordable higher quality transmission.” said Gabriel Ruhan, Global Marine’s CEO. “The JV will deliver just that, combining Huawei’s optical network leadership, powerful R&D resources and exceptional reputation for customer service with Global Marine’s expertise in the installation and maintenance of subsea systems.” The proposed JV is subject to execution of definitive agreements and customary regulatory approvals. -Ends- Notes to Editors: For more information please contact: Nikki Proctor/Chris Warner hbl media Tel: +44 (0) 207 612 1830 Email: email@example.com / firstname.lastname@example.org Deborah Bartlett Marketing & Communications Global Marine Systems Limited Tel: +44 (0) 1245 702105 Email: email@example.com Janet Au Yeong Fleishman Hillard Tel: + 852-2111-3186 Email: firstname.lastname@example.org Notes to Editors: About Global Marine: Global Marine, an independent marine engineering company, has been in business for well over 150 years and continues to be the pre-eminent provider of submarine cable installation and maintenance services in the world. Operating the world's largest fleet of cable ships and subsea vehicles, it is a market leader in marine cable installation and maintenance for telecommunications, as well as scientific research, oil, gas, utilities and the renewable energy sector. Global Marine is headquartered in the United Kingdom with regional offices in the United States and Asia. The company has established strategic alliances with several of the industry’s leading companies and has successful Joint Ventures and partnerships with SBSS in China (China Telecom), NTTWE Marine in Japan (NTT) and ICPL in Singapore (SingTel and ACPL). Global Marine has installed more undersea fibre optic cables than any other operator, and more than 50% of the world’s buried fibre-optic cables have been installed by Global Marine. And between 30 and 40% of all subsea cables repairs and maintenance are undertaken by the company. Learn more at: www.globalmarinesystems.com About Huawei Technologies Co., Ltd. Huawei Technologies is a leader in providing next generation telecommunications network solutions for operators around the world. The company is dedicated to providing innovative and customized products, services and solutions to create long-term value and potential growth for its customers. Huawei’s products and solutions are deployed in over 100 countries and serve 31 of the world’s top 50 operators, as well as over one billion users worldwide. Learn more at: www.huawei.com This press release was distributed by ResponseSource Press Release Wire on behalf of HBL Media in the following categories: Business & Finance, Computing & Telecoms, for more information visit http://pressreleasewire.responsesource.com/about.